According to a fact sheet issued by the group, the “overwhelming majority” of public pension funds have enough money to continue paying their liabilities with more than $2.7 trillion in assets. Retirement systems also remain a small portion of state and local government budgets, amounting to about 3% according to the fact sheet.
Facts about pensions cited by the governmental organizations include:
- State and local governments are already taking steps to secure their pensions for the long term;
- Pension dollars help the economy of every jurisdiction;
- Long-term investment returns of public funds continue to exceed expectations; and
- State and local government retirement systems do not require, nor are they seeking, federal financial assistance.
For additional information, the public pension fact sheet is available at http://www.nasra.org/resources/PublicPensionFactSheet110125.pdf. An issue brief is at http://nasra.org/resources/ERContributions.pdf.
The material was released by the National Conference of State Legislatures, National Association of Counties, United States Conference of Mayors, National League of Cities, International City/County Management Association, National Association of State Auditors Comptrollers & Treasurers, Government Finance Officers Association, International Personnel Management Association for Human Resources, National Council on Teacher Retirement, and National Association of State Retirement Administrators.
« Segal Encourages Multi-Employer Plans to Use Pension Funding Relief